/images/ppid_59c68470-image-176545507846915461.webp)
Cyient Limited on Thursday (December 11) announced the acquisition of Abu Dhabi and Gulf Computer Est (ADGCE), an Abu Dhabi-based technology consulting and digital services company, as part of its efforts to expand operations in the Middle East.
The India-headquartered intelligent engineering solutions company said the strategic acquisition will support its plans to scale its presence across key sectors in the region, including energy, utilities, transportation and connectivity. ADGCE primarily caters
to the energy sector, and its capabilities will bolster Cyient’s offerings in digital transformation programmes, IoT-enabled solutions, data-driven asset management and field engineering services.
Cyient said its strengthened presence will enable it to work closely with governments, utilities, transport operators, telecom service providers and private enterprises to support smart infrastructure development, digital modernisation and design-to-manufacturing solutions.
The company highlighted that the region is expected to invest over $200 billion in the energy sector, creating significant opportunities across sustainability, utilities modernisation, smart transportation, advanced manufacturing and public sector digitalisation.
"Cyient’s expansion in the Middle East is a reflection of our commitment to being a strategic digital and engineering transformation partner for the region," said Sukamal Banerjee, Executive Director and CEO, Cyient. He added that the acquisition enhances the company’s ability to deliver localised, future-ready solutions.
The shares of the company ended 1.24% higher on Thursday, December 11. The stock has fallen more than 36% in the year so far.
Also Read: Zerodha to release equity F&O margins early on expiry days for commodity trades
